央行：支付机构跨境人民币业务扩至经常项下

Core Viewpoint - The People's Bank of China (PBOC) has issued a notice to support cross-border RMB settlement for new foreign trade business models, effective from July 21, enhancing the collaboration between domestic banks and licensed payment institutions [1][4]. Group 1: Policy Implementation - The notice allows domestic banks to collaborate with licensed non-bank payment institutions and qualified clearing agencies to provide cross-border RMB settlement services for market participants and individuals [1][2]. - The policy emphasizes three principles: "Know Your Customer," "Know Your Business," and "Due Diligence" for banks and payment institutions involved in cross-border RMB settlement [1][2]. Group 2: Requirements for Banks and Payment Institutions - Domestic banks must have at least three years of experience in cross-border RMB settlement and meet specific regulatory requirements, including anti-money laundering and anti-terrorism financing capabilities [2][3]. - Payment institutions must establish robust systems for anti-money laundering, anti-terrorism financing, and anti-tax evasion, and must not have serious violations in the past two years [2][3]. Group 3: Compliance and Monitoring - Banks and payment institutions are required to collect and regularly verify basic information about market participants, establish a negative list, and set transaction limits based on transaction characteristics [3]. - The PBOC will conduct non-site monitoring of the cross-border RMB settlement activities of banks and payment institutions, which must cooperate with these efforts [3][4].